Circle, a blockchain-based loan provider is aiming to use digital financial services company Nice Actimize’s market monitoring tools to handle manipulation, as documented in a press release on Feb. 27.
Nice Actimize, which forms a branch of Israeli enterprise software giant Nice Ltd., offers professional client tools through the areas of risk, financial crime, and compliance.
It is usually to be noted that Circle will primarily use Actimize’s Cloud Markets Surveillance (CMS) to proactively halt and become familiar with malicious trading activity independently platform, including insider layering, trading, and in some cases so-called pump and dump schemes.
Robert Bench, Circle’s head regulatory counsel and chief compliance officer, commented inside the press release that adapting ground-breaking technology solutions, for instance the financial markets compliance solutions from Nice Actimize, to meeting the ability needs of regulators and protecting their assets brings the commitment full circle.
As per the first kind media reports, institutional platforms like Circle are keenly attempting to subdue concerns about exploitation on cryptocurrency and digital asset markets.
Not just Nice, and Nasdaq has witnessed success deploying its market surveillance technology in associated areas. In January, Nasdaq showed that seven cryptocurrency exchanges currently use its market monitoring tech.
Furthermore, trade security startup Solidus Labs declared, a few weeks ago, that it had raised $3 million to fight market manipulation.